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to thank chairman bernanke for being here today. starting with your discussion on page 4, in addition to closing special facilities the federal reserve is normalizing its lending to commercial banks through the discount window and you go on to talk about your new federal funds rate and discussion about why you have done this and encouraging banks to go to the private market for investment and you say further in this discussion that these adjustments are not expected to lead for higher financial conditions for households and businesses. the last thing i heard before i came here this morning was a prediction by some of the analysts on television that in about one month we can expect that there will be an increase in interest rates on mortgages and home loans and everybody that i've talked to really believes that this change that you have made in the federal funds rate is what's going to trigger that. is that true or did you give any thought to this? how can you guarantee that it won't? >> congresswoman, it's not the federal funds rate that we raised. it was the discount rate. >> the dis
tonight. thank you. the federal reserve chairman ben bernanke laid out the blueprint for the fed's plan to recoup all the money it loaned out in the great recession and in turn winding down the stimulus program. bernanke issued a statement saying the fed will try to raise the interest rate it pays banks to keep money in the u.s. central bank. analysts say that way banks would be less inclined to put money on risky investments. but they also say that could hurt consumers because those banks would have more incentive to sit on their money and earn interest rather than lend it out to you and me. but, bernanke says the plan will not be implemented until the economy is on a firmer footing. on wall street, the stock market managed to steady itself before the closing bell today. after hearing bernanke's plans concerning the central bank, stocks suffered sharp early losses before reversing course later in the day. the market ended up just about where it started. the dow dropped 20 to close a little bit above the 10,000 mark. the nasdaq down 3. the s&p off 2. while the fed works on the financial
-- to lowest level since world war ii. ben bernanke sunday pressure to explain how to wrap up the central bank's program to inject emergency cash into the economy. he testifying before house lawmakers today who sits on the financial services committee. his job is a tough one because the economy is still shaky and ending the rescue program too soon could put us back in dangerouster. hay told lawmakers the fed members believe the recovery -- the recovery will remain high the next few years. >> consistent with moderate economic growth, expecting the unemployment rate to decline slowly. to arrange 6 opinion 5 toerz 7 opinion 5% by the end of 2012. still well above their estimates of the long run sustainable rate of 5%. >> bernanke said he's also committed to keeping interest rates low and you can see how that isn't landing on wall street. the dow jones industrials up 87.5. s&p popped up 9. nasdaq is up 22. by the way, the securities and exchange commission just voted today to make new rules to limit short selling on stocks that drop 10% or more. the vote was very close. >>> an investigation of a p
commercial real estate? i guess that you were all looking and listening to chairman bernanke when he talked about the next wave of defaults in the real estate area. >> yes. chair come well last questions, thank you very much -- develop last request questions. new loan fund than they did under the t.a.r.p. capital programs. one very important difference is that tarp was intended to provide capital for banks to assure their viability under conditions. this is powerful program designed to get banks to lend because as you know the dividend rate on this new capital can drop dramatically if and only if banks lend beyond where they are lending today. couple other points. the small banks we're talking about, have done a pretty good job of maintaining lending balances during this very difficult recession. we think many of them are eager to lend, and by providing them with more capital, in this case capital that could increase their tier 1 capital by 30 to 50% they should be more confident about able to support existing assets and increase their lending at the same time. >> it just brings me back mem
garzarelli, president of garzarelli capital. wednesday, federal reserve chairman ben bernanke testifies on capitol hill about the state of the economy. and monday, we charge ahead with new credit card rules. they go into effect that day, so we look at how they'll affect the bottom line of banks. >> susie: profitability was not a safe bet for nevada casinos last year. casinos posted their biggest- losses ever. the state's gaming board says the industry lost nearly $7 billion in fiscal 2009. more than half of that-- $4 billion-- was in properties along the las vegas strip. the only bright spot, from a financial standpoint: people drank more! alcohol sales rose 2%, while revenue tied to casinos, rooms and food, all dropped. >> tom: a month after toyota's massive gas pedal recall announcement and we're learning just how busy some auto repair shops have been. two large toyota dealers, auto nation and penske auto group have fixed more than 17,000 toyotas each. penske says the accelerator problems cost $70 to fix. that's the cost to toyota. so based on penske's assessment, toyota may spend up
assurances by the federal bank. ben bernanke offered an up beat report on the nation's recovery yesterday. he told congress interest rates will remain low to encourage borrow ing. the dow rose 91 points after dropping more than 100 the day before. >> we have no idea which way the economy is going. bernanke has no idea which way the economy is going. >>> officials in florida are collecting eyewitness accounts in yesterday's deadly attack at seaworld, orlando, where an experienced trainer was killed by a 12,000-pound whale. the 40-year-old victim was snatched from the platform as the audience looked on in horror. witnesses say the killer whale thrashed her back and forth and dragged her under water. it's the third time this killer whale has been involved in a human death. >> the third time. a killer whale kills three times. the officials say they're not going to put the whale down wha killer whales do. >>> time to go to willie geist looking at what's going on in vancouver. willie? >> reporter: that's a terrible story, mika. let's move on to the olympics here. the hockey was the big story yester
uptick in global trade activity. fed chairman ben bernanke beginning to lay out a strategy for weaning the economy off the stimulus plan. the time for such steps has not yet arrived. a surprise dip in mortgage applications as rates on 30-year loans fell to their lowest since debs and wall street looking at a bailout for debt burdenened greece. now back to "hardball." >>> welcome back to "hardball." the headline in the "washington post"/abc poll. good news for republicans. bad news for the democrats. it reads on major issues republicans gain ground on president obama. what do both parties make about the shifting ground? steve mcmahon a democratic strategist, todd harris a republican strategist. if you are a democrat these are big, bad numbers. in february of this year, the democrats were trusted by 56% of the people. which party do you trust to do the better job coping the the main challenges. the white side is a year ago. the democrats were big on the trust issue, unemployment, health care, foreign policy. look at the numbers 43 to 37. the democrats only a little bit ahead. six points
. >> people orchestrated the bailout and ben bernanke and others says this makes them sick and it's what they hated the most. >> if you don't get the "fox business" network, you should demand it. so says neil cavuto. >> shepard: word of a rough standoff in the town of mccomb, illinois. it appears what's happened is a gunman is in a farm king store, which i'm told is a supermarket. and he's been shooting up the place. it's apparently, according to the reports from mccomb, illinois, north and west of the capital, two people may be dead. is that true? two people shot. my bad. we don't know their status. we know a couple people have been shot. people came out of the store crying and the s.w.a.t. team is there. the local reporter heard shots fired again. two farm king employees are hold up in an -- holed up in the office and eyewitness told the local tv the police, fire and ambulance crew are on the scene. the shooting is taking place now according to authorities. i just -- we have no idea who is doing the shooting and why these employees are holed up in the place. but we're getting crews fro
bernanke and break out his crystal ball. >>> still ahead this hour, question time. president obama sitting down with both political parties. direct engagement may be the president's new m.o. you'll get to watch it all live. we'll talk about it with 538.com's nate silver. one of those out there demanding more open forums for just this type of engagement. >>> on "hardball," with bipartisanship out, what is there to talk about? chris matthews debates that questions with members of both parties on "hardball," up next. reliable, high-quality vehicles has been our first priority. ♪ in recent days, our company hasn't been living up to the standards that you've come to expect from us or that we expect from ourselves. that's why 172,000 toyota and dealership employees are dedicated to making things right we have a fix for our recalls. we stopped production so we could focus on our customers' cars first. and technicians are making repairs. we're working around the clock to ensure we build vehicles of the highest quality... to restore your faith... in our company. for more information visit toyota.
bernanke is concerned about the nation's economic recovery. during the ceremonial swearing in for his second term, bernanke told staffers that despite a growing economy, far too many people remain unemployed. he also talked about the challenges facing the fed, which include protecting its independence from congress and making the institution more open and accountable. >>> president obama's aunt is preparing to make her second bid for political asylum. she'll go before an immigration judge if boston after defying a deportation order in 2004. she's expected to argue that ties to the president could make her a political target if she returns to kenya. her status was revealed shortly before president obama was elected in 2008. >>> and while many of you are gearing up for this sunday's super bowl, some in the nfl are worried that the game's days could be numbered. the players association fears owners will impose a work stoppage after the current collective bargaining agreement expires and they're taking their caught to capitol hill. the league says a new collective bargaining agreement wil
. your dreams. more within reach. meet us at ameriprise.com. >>> ben bernanke. >> yes. >> who oversaw the collapse of not only the united states, but pretty much the entire world financial system. >> right. >> and brought our economy to its knees has been reappointed as head of the fed. >> right. >> does this give you hope for being re-elected governor of new york? because may i remind you, he screwed everybody. >> wow. >> eliot spitzer taking shots from colbert last night. here with us now, founder, editor of thedailybeast.com, tina brown. >> good morning, everyone. >> great to see you. we'll get to your explosive piece about andrew young. have you quite a bit to say about john edwards' body man. we may have to bleep that. but first, maureen dowd's don't ask, don't tell op-ed. she writes in part -- tinea it was a pretty remarkable day on capitol hill. >> i thought it was pretty believing. very moving indeed. one does ask whether it will ignite a cultural war thing and distract. that's the only thing that scares me, we do need to be focused on jobs now. the timing seems strange. but h
, 50 basis points or 100 basis points would be out of whack. >> did you see bernanke's swearing-in? >> i didn't.he president wasn't? >> how do you talk about transparency when you have a private swearing-in ceremony in apparently there is no legal standing for the swearing-in ceremony, because he was approved while he was still chairman. if the chairmanship expired, there would need to be a -- >> why would you need to see someone sworn in? you think he's actually going to swear? >> typically a president or a top official at some time -- >> but transparency, though. >> the most public fight over a fed chairman. >> the ceremonyial way. >> it's not a legal thing. >> you want him to answer questions that you pose him, you don't want to see the ceremony of someone swearing in, how did he look, what was his expression? was he worried? >> does it help he was in matter? >> i don't think it matters. >> this isn't what transparency was watched. i want to have watched it. i wouldn't have taken time out of my day to watch it. >> it shows you what a nerd you are. >> i don't want to be surpri
-span, federal reserve chairman ben bernanke testifies on capitol hill. president obama discusses his economic policies at a meeting with the u.s. business roundtable. and toyota executives testify at a hearing about their company's recalls. on tomorrow's "washington journal," we will preview health care summit with members of congress, including michael burgess of texas, diana degette, james clyburn, and bill cassidy. james clyburn -- julie rovner as well. >> live on thursday, day-long coverage of the health care summit. live from blair house, it will also include your reactions on c-span radio and c-span.org. >> now, federal reserve chairman ben bernanke. he told congress that the federal reserve will maintain low interest rates to help preserve the economy. this is about an hour. >> chairman frank, ranking member baucus, and other members of the committee, i am pleased to present the federal reserve's semiannual monetary policy report to the congress. i will begin with outlook -- comments on the outlook of the economy and for monetary policy. although the recession officially began more tha
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bernanke also kept the market in check. he outlined the plan that the central bank will follow once the economy has recovered. bernanke was scheduled to deliver the testimony in person to a congressional panel, but the wearing was postponed because of, well, the storm. weather permitting, tomorrow we'll get the latest readings on jobless claim ace long with earnings on pepsico and viacom. and did i happen to mention it's snowing here? >> yes. is it making you a little grouchy? >> i'm not grouchy, i'm not going home. that's what's happening. >> hang in there. one year after hayleigh cummings vanished from her home, we hear from her father in jail on drug charges. we're going to talk about that next. >> the nasty winter weather is making roads deadly. earlier we showed you the stretch of interstate 80 in central pennsylvania. we have now learned, at least one person was killed after about 50 vehicles were involved in crashes. this is all in clearville county. another is said to have a serious leg injury because of all of this. no one is really going to go anywhere on the east coast to
in place. we had hank, ben bernanke tim geithner and sheila bair the head of the fdic. i know a lot of people in finance and a lot of people in business and government. and i can't think of for that would have done a better job of getting us through that. now it's kind of fashionable to look back and pick at one aspect or another of what was happening and our country's financial system froze up during that period. some of you in this room were at a party i was at in september of 2008, one to talk was the money market funds saved. if we have 3.5 trillion fun missile by 30 million people who on is and they might are worrying about whether they can get their money that was half of all the process held by u.s. banks at the time you have a panic. you had commercial paper frees up entirely in the biggest companies of the united states and some are described in this book that worried whether they were going to meet their payroll and a short period of time to read the sixth largest bank in the country in terms of the domestic deposits, washington mutual failed over a weekend. you had the th
closed yesterday. investors did have time to digest the news. the chairman of the fed ben bernanke basically telegraphed all this. he said that he was going to essentially be pushing up rates, tightening policy last week when he spoke before congress. analysts say the increase in the increase rate indicates that the fed is winding down a series of extraordinary programs it put in place to ease the economic crisis. so, in other words, the crisis is over. the rate increase is not going to directly affect borrowing costs for consumers and most businesses, but, as you see, it's putting the stock market under a little bit of pressure. right now we've got the dow off a little more than 27 points. also under pressure, shares of dell, the computer giant, reported disappointing fourth quarter earnings. sales rose during the holiday season, but those sales were cropped up by steep discounts that did cut into the company's bottom line. finally, well, the saints came marching in to the nyse this morning. three members of the super bowl champion new orlean saints rang that opening bell, looks l
's news, chairman of the federal reserve, ben bernanke, says there is a risk for high interest rates and high inflation. borrowing from china and buying huge amounts of oil from opec and we have to realize we have a mess in our hands but there is a solution. we can create jobs and grow our economy without raising taxes. it's a bipartisan american conservation and clean energy independence act, h.r. 2227. this bill uses the trillions of dollars from oil and gas exploration off or coasts, drive conservation and new technologies to improve energy efficiency, develop clean energy generation and infrastructure, rebuild america's independent transportation system and clean our air and water. and not only will we create a clean energy future but create good-paying jobs for years to come. the news tells us how they are but that's not how it has to be. join me in supporting the clean energy and conservation act. i yield back. the speaker pro tempore: the gentleman yields back the balance of his time. for what purpose does the gentleman rise? >> to address the house for one minute and to revis
bernanke is in, senator. >> yes, he is. >> that's all right with you, though. you're going to be okay, right? >> i'm going to be okay. i offer my congratulations. but i think it does accepted a message to be confirmed by the lowest margin in history, sends a message about the concern about the role he played and the build-up to the crisis. >> yeah, but senator, you were ready to take the other side, knowing he would get confirmed, and your constituents can still say, well, at least this senator took the populus side. took the. >> i took the position as the only democrat taking that position after a careful review of the things he stood for, alignment with greenspan, failure to resfond derivatives. the failure on consumer protection, the things you are talking about in terms of prepayment penalties and liar loans and so i think he failed on many fronts but he is there now and i hope he does a great job on monetary policy and gets consumer protection in an agency that will care about it. >> senator, thanks. you have to keep coming back. >> thank you. >> oregon, oregon. i know how to say
said --ç and i remembered s@iing this to bernanke -- i believe for theç denning wall . you guys and your friends and wall street caused the problem. even if you think the ballot as necessary, i tell you what to do. go back to the richest and saying we are putting a surtax on millionaires and billionaires to pay for the bailout. that was my view. xd and iç think what michael is talking about, there was huge frustration and anger in this countryq that government has worked to protect the interest of wall street whileç ignoring- çkow3michael talkingi] about tt that he is a father tried to send kids through college. we are putting more money into programs but we have a lot more to do. i think what people are saying and crying out for, what about us. we are working 50 or 60ç hoursa week, start worrying about us and not just the big money interests. i (jjtjr host: senator bernie sanders, thank you for coming on "washington journal." we will take a short break and will become that the discussion regarding the economy and the latinoç community but the president of la raza. fir
bernanke was scheduled to testify before the services committee and not any more. the hearing was postponed and may still release a plan at the top of the hour. it is expected to outline the bank's central plan and unwind programs that waere designed to get out of the crisis we're experiencing. disney says its fourth quarter results reflect, they are putting off travel plans to the last minute. the company had to rely on discounts. >>> finally, robin, we did a little digging, snow digging. 41 years ago today, that was the last time the new york stock exchange was closed for snow. last full snow day that they've had. no worries, they're at it today. they're down there and the nyc is open. it's kind of weird. 41 years ago today. >> they officially closed them, but not today. >> not today. >>> bracing for a blizzard is even tougher when you're already recovering from record-setting snow storm. how the nasty weather is affecting thousands of flights and a morning commute. this is from washington, d.c., i can tell. mostly from the call letters. >>> plus, one of tiger's alleged mistresses says he
in adjournment until friday 9:30, february 26. that is followed by federal reserve chairman ben bernanke's testimony before the senate banking committee. >> i come from latin america. i am never expecting to find this kind of poverty. >> photographer and documentary filmmaker on a different side of the nation's capital in the shadow of power, sunday on c-span's q. and a. >> homeland security secretary janet napolitano testified before a house in a about her agency's budget request for the next fiscal year. she answered questions about the consolidation of some of the department's programs and denied reports that the board of security staff has been cut. this is three hours. >> the committee on homeland security will come to order. the committee's meeting today to receive testimony from secretary janet napolitano on the presidents fy2011 budget request for the department of homeland security. i want to thanks secretary napolitano for being flexible about testifying in support of the president's fiscal year 2011 budget request for the department of homeland security after back-to-back bliz
. bernanke looks closer to getting his way after what has been a fraught few months. calls the fed to -- host: chat mooga, tennessee, next on our republican line. laurie. caller: hi. i want to comment about the bipartisanship that i see a great deal of in washington and that seems to be that everybody is in agreement 100% on sucking up to their, to the people that spend the money on them, to get them voted in the office and everybody seems to be completely bipartisan on the fact that they're up there to look after their own skin and not the american people. and as far as trying to agree with somebody on the other side of the aisle just for the sake of being called bipartisan, where's your conviction? it doesn't matter whether you're republican or democrat, independent or whatever. if you've got conviction, stick with them. do what's right for america. not what's right for your party. not what's right for the people who paid to get you in office. and that's about all i have to say. host: orange county, creativity. kalee on our democrats line. caller: i'm a democrat who is going switch to an in
that as a new member, i sat as many of my colleagues did when we got a call from secretary paulson and bernanke in saying this guy was-- and we had to react in two days. so sometimes depending upon the issue of the reaction has to be different. babbitt you or do you not agree with the testimony of mr. scovell which are not just limited to rulemaking and now i have a minute and 47 seconds. >> in 15 seconds i get an a-plus on milestones for professionalism. training i get an incomplete and i get a b on fatigue. >> do you agree with his assessment? >> i agree with some of his assessments. >> look forward to your immediate reaction to them and i would say, i would rather see you come to us and be creative in think out of the box and maybe have to figure out how we can do things differently because i think the confidence of the american public is reducing every day that we delay, and i think there is room for us to think creatively and do it different and i look forward to helping you. >> thank you very much. i appreciate that. >> i thank the gentlelady and that recognize the gentleman from ohio, mr
Search Results 0 to 25 of about 26 (some duplicates have been removed)